Many bitcoiners are butt hurt to see gold going parabolic.

Zoom out, bitcoin has performed exceptionally well so far this decade and will continue to do so.

Gold is having its day because governments are falling back to what they know as the dollar reserve system comes into question.

China is setting up a parallel settlement network using gold and it's using gold because it's been reliable for millennia and, more importantly, has the liquidity profile to settle the size they need to settle if they're going to compete with treasuries.

This does not change the fact that bitcoin is superior in every way to gold. It's a harder money that's more easily divisible, easier to send, easier to verify and easier to custody.

Bitcoin still has many trillions of dollars of market cap to add before it can compete with gold from a liquidity perspective.

I am more optimistic than ever that bitcoin will reach this point because more people are learning these facts every day and the infrastructure around the protocol is advancing at a faster pace than I've ever seen.

Square's release this week is the latest example of this. 4,000,000 merchants across the United States are currently being forced to ask the question, "Should I accept and hold bitcoin?"

How many do you think will take the plunge?

Zoom out.

$200k party incoming 🚀🚀🚀

Met with the CFO of a large foundation with nearly $2 billion in management. Acknowledged gold is on a tear and Bitcoin has an impressive CAGR. But they’re not going to stick with equities and bonds because they’ve performed mostly well since the foundation’s founding in 1959. I said, “why not allocate 1% as a hedge?” No, he says, “I’m an old school optimist.”

We’re still early.

“Show me the incentives and I’ll show you the outcome.” says Charlie Munger. Bitcoin has a better monetary policy than fiat, so rational self-interested actors abused by fiat inflation and manipulation will continue to adopt it. On the other hand, the Cantillionaires that benefit from fiat have every incentive to hate Bitcoin, which is why Munger calls it rat poison. Touché.

#devotional

Where do you think we are right now?

(hint: the government numbers are fudged...)

I don’t care what anybody says, I’m going to this concert and one of you is coming with me.

nostr:note14axd5dd4n3da8xxsh594mu94uq460nt7hz6z8fynt37mf36aau7stwvycw

Jim Cramer just "wrote" an entire book about being wrong

How much truth is there to the "they've been suppressing price for decades via the futures market" narrative?

What do the top items have in common? Goverment intervention.

There are currently ~$700 trillion of global *investment* assets:

Bonds: $137T

Stocks: $117T

Real Estate (ex-Agriculture): $290T

Art & Collectibles: $22T

Gold: $10T

M2 (cash, savings, etc): $130T

TOTAL = $706 trillion

- nostr:npub1cj94enk44kn5mvrcma4sp7jnlsgnn4em7rk3dh3jt4fzyqs3m02s560efa

#BitcoinTwitter